Start off with making sure you are contributing at least the percentage amount that your company is matching. If they match 5%, make sure you contribute at least 5%.\r\n\r\nMost 401K plans have retirement goals based on number of years before retirement. That\u2019s an easy way of gauging how much you need to invest, at what risk level, and the years in order to live the lifestyle you envision living when you retire.\r\n\r\nSome financial gurus state 20% of your income should go into long term retirement savings. This could be a combination of 401k, IRA or other investments that are specifically set aside for retirement.\r\n\r\nYou could start off with 10% and increase that a percentage once a year. If you are wondering what the impact to your take home pay after a percentage increase, check out Fidelity\u2019s Take Home Pay Calculator. A percent increase in contribution may only mean a few dollars less on take home.